Cremation Coin recently burned 30.6 million LUNC tokens to support the Terra Classic (LUNC) Token Burn initiative. Cremation Coin has contributed an impressive 326.6 million LUNC tokens since the start of the burn initiative, and have has now moved up to seventh place on the list of the largest burners of LUNC tokens. This burn is the result of Cremation Coin contributing 91% of this week's total Terra Classic burn transaction, which amounted to 33.4 million tokens. The Cremation Coin team called attention to their burn, to highlight the initiative, through their official Twitter handle.

The LUNC DAO also contributed to the initiative, burning 1.57 million tokens yesterday. This burner has been consistent ever since the start of the burn initiative, burning millions of tokens at regular intervals. The Terra Classic burn initiative was initiated back in January 2021, and its aim is to reduce the circulating supply of the token, something that will boost the value of the tokens currently in circulation.

The Cremation Coin team remains on the lookout for other ways to support the initiative. Additionally, validators have been urged to join the initiative, as the more active participants there are, the faster the circulating supply of LUNC will be reduced. This should lead to an increase in tokens' value, something that will have a massive positive impact for all LUNC holders.



Other News from Today